Amundi Has $166.55 Million Holdings in PACCAR Inc. $PCAR

Key Points

• Amundi increased its holdings in PACCAR Inc. by 54.4% during the 1st quarter, purchasing an additional 635,074 shares, bringing its total ownership to approximately 1.8 million shares valued at $166.5 million.
• CFO Brice J. Poplawski and CEO R Preston Feight both sold significant amounts of PACCAR stock recently, with Poplawski reducing his holdings by 91.44% and Feight by 15.19%.
• Brokerages have raised their ratings and price targets for PACCAR, with Argus upgrading to a buy rating and setting a target price of $121, while the average analyst target is $107.68.

Amundi grew its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 54.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,803,173 shares of the company's stock after purchasing an additional 635,074 shares during the quarter. Amundi owned about 0.34% of PACCAR worth $166,548,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCAR. E Fund Management Hong Kong Co. Ltd. grew its position in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after purchasing an additional 240 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of PACCAR in the first quarter valued at about $29,000. Sunbelt Securities Inc. lifted its stake in shares of PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after buying an additional 350 shares during the period. Bayforest Capital Ltd lifted its stake in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after buying an additional 274 shares during the period. Finally, Accent Capital Management LLC bought a new stake in shares of PACCAR in the first quarter valued at about $40,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citigroup increased their target price on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Truist Financial cut their price target on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and raised their price target for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $107.68.

PACCAR Stock Performance

Shares of PACCAR stock traded down $0.80 during trading on Monday, hitting $98.25. 1,742,520 shares of the stock were exchanged, compared to its average volume of 2,832,595. The stock has a market capitalization of $51.59 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 3.98 and a beta of 0.94. The company has a fifty day moving average price of $98.25 and a 200-day moving average price of $96.23. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.13 EPS. As a group, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were paid a $0.33 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's dividend payout ratio is 22.60%.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.